585 Mclean Ave Unit 6E · Yonkers, NY 10705

$195,000

2 bd · 1.5 ba · 1,100 sqft · Condo · 4 Days on market

Built 1954 Good condition

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Why this score? — see what drove the B grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Rent growth +4.8/5.0
• Schools +4.1/10.0
• Condition / age +4.0/5.0
• Livability +3.4/5.0
• Appreciation +0.0/10.0

Listing remarks

Stunning Totally Renovated Top Floor 2 Bedroom 1 and a 1/2 Bathroom Apartment in the Vibrant Lincoln Park Section of Yonkers ~ Best of All a Sponsor Unit with No Board Approval ~ Post-War Building with Spacious Floor Plan ~ Entrance Foyer ~ Sun Filled Living Room with Treetop Views ~ Remodeled and Opened New Kitchen with Soft Close Cabinets - Gorgeous Granite Countertops - Top of the Line GE Appliances ~ Brand New Full Bath with New Vanity and Shower/Tub Combination with Brushed Black Fixtures ~ King Size Primary Bedroom with En Suite Renovated 1/2 Bath and Views of the Palisades ~ Second Generous Size Bedroom/Office/Den ~ Beautiful Hardwood Floors ~ Walk to Everything ~ Wonderful Shopping

Key facts

• Remodeled kitchen
• Soft close cabinets
• Granite countertops

Tags

• TOP FLOOR
• ENTRANCE FOYER
• SUN FILLED LIVING ROOM
• REMODELED KITCHEN
• SOFT CLOSE CABINETS
• GRANITE COUNTERTOPS

Property features AI

Finance

• Other: Living area source: plans
• HOA & community: Monthly additional fee for capital improvements and budget assessment ($248.60)

Exterior

• Parking: Garage; On-street parking; Waitlist for parking; 20 garage spaces
• Utilities: Con-Edison electric service; Public sewer; Cable available; Electricity connected; Trash collection (public); Water connected
• Home design: Stock cooperative; Six-story building; Entry on 6th floor; Unit located on 6th floor or higher
• Construction: Brick construction
• Exterior features: Brick construction; Not waterfront; Near public transit; Near shops; Park nearby

Interior

• Kitchen: Dishwasher; Gas oven; Refrigerator
• Bedrooms: 5 total rooms
• Flooring: Hardwood floors
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Oil heating; Hot water heating; No central cooling
• Interior features: Elevator; No basement; No attic
• Laundry & utility: Dedicated laundry room

🏢 Co-op / cooperative unit. The $195,000 price buys shares in the cooperative corporation, not the real estate itself — so it isn't comparable to a fee-simple sale price, and the cashflow / cap-rate / 1%-rule cards below (which assume you own the property and can rent it out) don't apply here. Expect board approval and a monthly maintenance fee on top of the price.

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath condo listed at $195k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $1k ($12k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $195k).
• Cap rate 12.5% vs local median 5.3% in Yonkers — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 68/100 on livability (#528 in NY) — a middle-class / working-renter tenant base. Strengths: employment A, commute B; Watch: amenities F, cost of living F.
• Yonkers City School District (suburban): math 41% / reading 54% proficiency, ranked #413 of 590 in NY (top 70%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 64% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Yonkers Early Childhood Academy (327 students, 72% FRL); Yonkers Middle School (math 17% / reading 37%, grade F, #587 of 729 statewide, top 81%, 601 students, 88% FRL); Yonkers High School (math 92% / reading 88%, grade A+, #238 of 1,100 statewide, top 23%, 1,060 students, 76% FRL) — zoned schools average 79% FRL vs 64% district-wide (15 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+9.0%/yr); 86 active listings in the ZIP; 25 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); 954 units permitted in Westchester County in 2024 (649 in 5+ unit buildings).
• At $2,972/mo this rent would consume 53% of the median local household income ($68k/yr) (locally 2783% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• Westchester County population projected at +10% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-3.0% appreciation + 8.0% rent growth), your $55k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1954 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y; extreme-heat days projected 6→13/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $195,000

Questions for the listing agent

1. Built in 1954 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
5. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
6. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.52% ✓
• Cap rate: 12.45%
• Cash-on-cash: 21.99%
• DSCR: 1.98
• GRM: 5.5

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 20.2%
• Equity multiple: 1.88×
• Total profit: $47,888
• Equity at exit: $29,075

10-year hold

• IRR: 31.7%
• Equity multiple: 4.58×
• Total profit: $195,445
• Equity at exit: $16,860

Cash invested: $54,600 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (CITY): 5 Strongly Tenant-Friendly
• State New York: 15 Strongly Tenant-Friendly · D+10
• County: — inherits STATE
• City Yonkers: 5 Strongly Tenant-Friendly · D+20

Westchester rent guidelines board.

Methodology + full state rankings →

ZIP-level market 10705

• Rents YoY: 9.0%
• Active inventory: 86
• Price-to-rent: 5.5×

Monthly cashflow live

• Estimated rent: $2,972 high
• Mortgage (P&I): −$1,023
• Tax est. 1.5%: −$244 /mo · $2,925/yr
• Insurance: −$81
• HOA: −$0
• Vacancy / Maint / Mgmt: −$624
• Net cashflow: $1,001

Break-even live

Break-even rent $1,706

Max offer price $195,000

Occupancy floor 61%

Sensitivity live

Price	-10% $1,135	-5% $1,068	+0% $1,001	+5% $933	+10% $866
Rent	-10% $766	-5% $883	+0% $1,001	+5% $1,118	+10% $1,235
Rate	-1.0pp $1,099	-0.5pp $1,050	base $1,001	+0.5pp $950	+1.0pp $899

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $48,750
• Closing costs: $5,850
• Reserves months: —
• Total cash needed: —

Rent comps 25 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
57 Putnam Ave Yonkers, NY	2.0	1.0	900	$3,000	$3.33	12d	1	0.29mi
57 Putnam Ave Yonkers, NY	2.0	1.0	900	$3,000	$3.33	22d	1	0.29mi
52 Lewis Pkwy Unit 1545731P Yonkers, NY	3.0	2.0	1496	$5,806	$3.88	16d	1	0.45mi
249 McLean Ave Unit 1B Yonkers, NY	1.0	1.0	700	$2,500	$3.57	18d	1	0.55mi
106 McLean Ave Yonkers, NY	3.0	1.0	1000	$3,200	$3.20	44d	1	0.77mi
116 Alexander Ave Yonkers, NY	2.0	2.0	1200	$3,000	$2.50	0d	1	0.82mi
14 Chamberlain Ave Unit 1 Yonkers, NY	2.0	2.0	1150	$4,200	$3.65	11d	1	0.92mi
135 Wakefield Ave Yonkers, NY	2.0	1.0	850	$3,000	$3.53	44d	2	1.15mi
23 Alida St Unit 2s Yonkers, NY	2.0	1.0	1000	$2,900	$2.90	25d	1	1.15mi
36 Dunwoodie St Unit 1 Yonkers, NY	3.0	1.0	1300	$3,500	$2.69	44d	1	1.18mi
142 Trenchard St Unit 2E Yonkers, NY	1.0	1.0	900	$2,250	$2.50	11d	1	1.22mi
594 Yonkers Ave Unit 5 Yonkers, NY	2.0	1.0	900	$2,500	$2.78	44d	1	1.23mi
594 Yonkers Ave Unit 5 Yonkers, NY	2.0	1.0	900	$2,500	$2.78	25d	1	1.23mi
14 Highland Ave Unit 2A Yonkers, NY	1.0	1.0	1000	$1,500	$1.50	19d	1	1.26mi
255 Bronx River Rd Unit 4R Yonkers, NY	1.0	1.0	800	$2,250	$2.81	24d	1	1.29mi
39 Spruce St Unit 1 Yonkers, NY	3.0	1.5	920	$3,300	$3.59	44d	1	1.32mi
495 Kimball Ave Unit First Floor Yonkers, NY	2.0	1.0	1100	$3,000	$2.73	44d	1	1.37mi
117 Morris St Yonkers, NY	1.0	1.0	700	$2,000	$2.86	5d	1	1.39mi
65 Caroline Ave Unit 1L Yonkers, NY	3.0	1.0	1050	$2,700	$2.57	44d	1	1.42mi
16 Pier St Yonkers, NY	3.0	1.0	1000	$3,200	$3.20	16d	1	1.42mi
280 Hawthorne Ave Yonkers, NY	1.0	1.0	700	$2,100	$3.00	8d	2	1.43mi
162 Willow St Unit 1F Yonkers, NY	1.0	1.0	700	$2,200	$3.14	15d	1	1.43mi
162 Willow St Yonkers, NY	1.0	1.0	700	$2,100	$3.00	8d	1	1.43mi
20 Overhill Pl Unit 3 Yonkers, NY	2.0	1.0	800	$3,000	$3.75	44d	1	1.45mi
52 Groshon Ave Apt 2N Yonkers, NY	3.0	1.0	1000	$2,469	$2.47	44d	1	1.46mi

HOA detail condo

• Monthly dues: $0 · $0/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 4 events

1. 2026-06-09
   days on market $195,000 Active 4 DOM
2. 2026-06-08
   days on market $195,000 Active 3 DOM
3. 2026-06-07
   remarks 699-char remark
4. 2026-06-07
   listed $195,000 Active 2 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 6/10 Major 6 d/yr ≥99°F today · 13 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $35,670
• − Mortgage interest: −$10,923
• − Property taxes: −$2,925
• − Insurance: −$975
• − Repairs & maintenance: −$2,854
• − Management: −$2,854
• − Depreciation: −$5,673
• Taxable income: $9,467
• Est. tax owed @ 24.0%: −$2,272
• After-tax cash flow: $9,736/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Condition & rehab AI · 13 photos

Good 80/100 Cosmetic rehab

This fully-renovated 2-bedroom condo in Yonkers offers modern amenities and a prime location. The interior is in excellent condition with hardwood floors and updated appliances.

Value-add opportunities

• Both landscaping — enhances curb appeal and adds value
• Both paint — refreshes interior and exterior
• Both window treatments — improves aesthetics and energy efficiency

Renovation cost estimate screening

Value-add ROI direction

• Both landscaping — enhances curb appeal and adds value ↑
• Both paint — refreshes interior and exterior ↑
• Both window treatments — improves aesthetics and energy efficiency ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Yonkers City School District
• NCES district ID: 3631920
• Math proficiency: 41% ▼ -1.00%
• Reading proficiency: 54% ▲ 14.00%
• Median HH income: $58,042
• Composite: 41.43/100
• National rank: #3471
• State rank: #413 of 590 in NY

Livability — Yonkers

• Score: 68/100
• State rank: #528
• US rank: #9394

Category grades

Amenities F Commute B Cost of living F Crime B- Employment A Housing B- Health & safety B- User ratings B-

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Yonkers, NY
• County: Westchester County · 709,332 people
• City population: 212,407
• Metro: New York-Newark-Jersey City, NY-NJ-PA
• Population (ZIP): 38,887
• Household income: $67,918
• Rent vs Own: 63.2% rent · 36.8% own
• Severe rent burden: 2783.0

Population outlook (Westchester County) Hauer SSP2

• Today (2025): 1,028,035 people
• By 2030: 1,051,636 · +2.3%
• By 2040: 1,098,520 · +6.9%
• By 2050: 1,136,044 · +10.5%
• By 2075: 1,196,925 · +16.4%
• By 2100: 1,175,147 · +14.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.56)
• Race & ethnicity: Hispanic / Latino 62% White 17% Two or more races 16% Black 12% Asian 5% Native American 1%
• Hispanic origin (detail): Mexican 13% Puerto Rican 9% Dominican 27%
• Common ancestry: Scotch-Irish 1% Romanian 1%
• Foreign-born: 40% · Canada, Jamaica, South Korea
• Languages at home: 39% English-only · Spanish 51% Other Indo-European 3% Other Asian/Pacific 2%

Political lean MEDSL · Westchester

• 2024 margin: Strong D (+26.3) · D 63.1% · R 36.9%
• 2008→2024 swing: -1.3pp toward R · 2008: 27.6pp · 2024: 26.3pp
• All cycles: 2024: D+26.3 2020: D+36.3 2016: D+32.8 2012: D+22.2 2008: D+27.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -368.22%
• Current HPI: 314.1777
• Rent YoY: ▲ 9.00%
• Metro: New York-Newark-Jersey City, NY-NJ-PA
• State GDP YoY: ▲ 2.60%
• F500 in state: 92

Industry mix (Fortune 500 HQ in NY)

Industry	F500 HQs	Revenue
▸Financial Services	10	$950B
▸Consumer Goods	9	$162B
▸Insurance	4	$225B
▸Telecommunications	2	$144B
▸Pharmaceuticals	2	$112B
▸Media / Entertainment	2	$69B

Price history

1 event — show timeline

• 2026-06-05 Listed $195,000 OneKey® MLS as Distributed by MLS Grid